There are signs that the extreme spikes in property insurance may be softening. Woodruff Sawyer predicts that there will be only single-digit increases in property and casualty insurance rates next year, while Ivans Insurance Services reported that the pace of increases eased for property insurance in November increasing 9.9%, down from the 10.4% increase in October.
And in general, this year rates for most insurance rose, although at a slower pace than they did the previous two years.
However, issues with inflation, climate and catastrophic loss, and reinsurance could all disrupt the forecast, Woodruff Sawyer said.
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